Increases in price of US $ 5 . 95 a metric ton for thermal coal and US $ 5 . 70 a metric ton for hard coking coal didn't come into effect until the second quarter of the year.
42.
BHP Australia Coal's general manager marketing and transport services Geoff Lill said the settlement was very satisfactory, with prices reflecting a strong global demand for the high quality hard coking coals produced at several of central Queensland's Bowen Basin mines.
43.
Analysts said Japan's trade press had reported that Nippon Steel, negotiating on behalf of the Japanese, concluded the second round of negotiations last week with a 50 US cent price increase per ton for hard coking coal with BHP Australia Coal.
44.
BHP, Australia's largest exporter of hard coking coal to Japan, said the new contract covers the delivery of 5 . 5 million metric tons of hard coking coal and a further 5 . 5 million metric tons of weak coking coal.
45.
Australian newspapers said BHP accepted price increases of 90 U . S . cents to US $ 1.40 a metric ton for hard coking coal and a reduction of US $ 2 a metric ton for lower quality, soft coking coal.
46.
BHP, Australia's largest exporter of hard coking coal to Japan, said the new contract covers the delivery of 5 . 5 million metric tons of hard coking coal and a further 5 . 5 million metric tons of weak coking coal.
47.
The U . S . is currently the lowest cost exporter of hard coking coal with forecast average costs of US $ 39 . 17 per metric ton, with Australia close behind at US $ 41 . 48 per metric ton.
48.
In April last year, BHP reported a 12 . 4 percent or US dlrs 5 . 65 per ton increase in prices for hard coking coals, on a decrease in tonnages, cut from 7 million tons to 5 . 8 million tons.
49.
Australian newspapers said BHP accepted price increases of 90 U . S . cents to US $ 1 . 40 a metric ton for hard coking coal and a reduction of US $ 2 a metric ton for lower quality, soft coking coal.
50.
The coal of the mine is described as " New Zealand's largest known deposit of high fluidity and quality hard coking coal " ( a type of coal in high demand for iron smelting ), and was expected to earn around NZ $ 170 million in export income annually.
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